Davis Polk is advising Merrill Lynch, Pierce, Fenner & Smith Incorporated as sole lead arranger and sole bookrunner of a $5 billion senior unsecured bridge term loan facility for Southwestern Energy Company, in connection with its agreement to acquire certain oil and gas properties and related assets from Chesapeake Appalachia, L.L.C.

Currently the fourth-largest producer of natural gas in the U.S. Lower 48, Southwestern Energy Company is a growing independent energy company primarily engaged in natural gas and crude oil exploration, development and production. Southwestern Energy Company is principally focused on the development of natural gas in the Fayetteville Shale in Arkansas, the Marcellus Shale in Pennsylvania and the exploration of oil and natural gas in other new venture plays in North America.

The Davis Polk credit team included partner Jason Kyrwood, associate Scott M. Herrig and law clerk Kaloma Cardwell. Partner Richard D. Truesdell Jr. and associate Yasin Keshvargar provided capital markets advice. All members of the Davis Polk team are based in the New York office.